Extracted Thread (per thread starter's request)

.......looks like the Pound is up! ;-)

(by the way, I only caught 50 pips of this (closed at yesterday's high). Shame they don't run like this every day eh?

[edit: most likely these comments caused the volatility: http://www.bloomberg.com/news/2012-07-26/spanish-italian-bonds-climb-as-draghi-pledges-to-preserve-euro.html]

Sue

the only problem i have, is that you dont now how strong the brakout will be...(today eur usd).

A marvelous and simple method ...

Wish that I had found you a year ago ...

Sincere thanks to all the team ........

Aaargh

Can you believe that my internet connectivity problem was sorted out bare 45 minutes too late to trade those moves.

But, there will be others, and I will be waiting!

Larry

Hello Bogo - You can never know with trading, but the market does give a lot of clues, and you need to listen to them to help you plan your trade.

For instance, the GBPUSD trade this morning:

The price was consolidating at almost the same level as the CZ yesterday, showing a lot of indecision. Tuesday's daily range was only 65 pips - half the usual range. Yesterday's range was also under the average. Before the price shot up this morning the price had been trading in the same 94 pip range for almost 300 15 minute bars. Price fell 300 pips in the last five days without making a 50% retrace. There was a lot of red news lined up today and the ECB President was speaking which always causes a commotion. Those are a lot of hints! (...and I'm sure if I added a lot of well respected MA's + fib retraces to the H1 and daily charts, I would see we hit some significant levels...but I don't think they are required to trade this way).

If you take note of the hints, look to take profit at very conservative levels (I just aimed for yesterday's high) and use sensible money management, I'm sure you will be well on the way to profiting from this way of trading.

I hope that gives you some food for thought :-)

Sue

all days will not move like this ,central bank policy eased,so its called as insider trading ,see the june 29 move,same move caused by insider trading(big boys).

Let it go Larry...tomorrow is another day...and one that is bound to range...maybe switch systems for a day? ;-)

Sue

Ya don't ya love it... My problem is I live in GMT-5 and LO is 3am here
I miss plenty but I get the TO but not as much action

WOW!

please clarifi me 1st buy triggered then it came to sell stop what will be u r stoploss

Hi FXH/All,
I just wanted to say thank you to OP and everyone who has dedicated time to this thread. I know everyones heard this before so I'll keep it brief. I haven't been able to stop reading this thread since it started, I've committed all the cardinal noob trader sins since I started a year ago. But this thread, and the book trading in the zone (highly highly recommended) have now helped me focus and take responsibility for my trading, Win or lose. I now know 'I know nothing'. Just trade what I see without fear.
After drawing too many boxes to count, I do get excited when I see consolidation forming. I only use the indi and mt4 to help me confirm it, gives me a fuzzy feeling I suppose. But I trade from IG charts and draw my own lines on them. Attached is E/U current CZ, I know my settings are a touch loose but they are just assisting me with my sweet spot. My IG chart lines are different hence I didn't take the short as per my own rules.
Just wanted to attach a pic as I've never posted before.


PS. Toothpaste eyes? Marital problems? My eyes are bleeding and my wife made me sleep on the sofa the last 2 nights as I haven't been able to stop reading and CZ hunting. That said I don't think she likes me much anyway!

I'm now in the EU break up. Fingers crossed.

Casey

well that couldn't have gone better, profits locked in as per my own mm plan. what a lovely finish to the week.

I'm still only trying to refine my trading at the moment. I'm watching lots of pairs, all of which made lovely moves this afternoon. But I'm only trading the 2 I'm comfortable with at present. That said, once I'm more confident (however long it takes) I will increase my lot size to 1% and I'll only need a couple of trades a week anyway.

So once again - I can't stress enough how grateful I am to all and anyone who has contributed (sensibly) to this thread. Especially OP, people who supply visuals of their trades and the coders who help to supply the great indicator. I have been in a very difficult place with trading (as most seem to) but this thread has focused me and given me belief.

I've posted the pic of the breakout I traded but I'm afraid I'm clueless as to how you draw lines etc to show where I entered and took profit (but those fib lines are scary good sometimes). Anyway I liked to see pics of trades other people took so just trying to help anyone else new to the thread and looking for recent trades.

Casey

Greetings,

First of all I have to say that this seems one of the best price action models I've seen. Congrats Forexhard!

Just tested the strategy and attached are my GBPUSD and EURUSD 15M Charts Pending Orders.
Box size: 30 pip high, 31 bar wide
Put a SELL at low of box -1 pip and put a BUY at high of box + 1 pip

For EURUSD - BUY at 1.2306
- SELL at 1.2273
Set SL at -30p
Set TP at +40p

For GBPUSD - BUY at 1.5703
- SELL at 1.5671
Set SL at -30p
Set TP at +40p

Trades unsupervised.

The results are in attachment 3.

Net result: - 20p ( + broker trading comission)

Seems that not supervising the trend is not a good ideea.

Any suggestions on how I could be better at this ?

Regards,

Alex

Follow-up to CHF/JPY CZ 7/27 Trade. This would have defeated me before I followed this thread. But, Since I read (and re-read) the thread, FxHard had me prepared for the contingencies. I hung in there and turned a winner into a loser and then back to a profitable winner. Thank you FxHard.

I personally would not trade this pair.

Each countries Govt really plays with its currency

I agree Dry. But I have never had a loser on this pair. I guess I might be a little lucky. The central bank interventions seem to happen when I am at work and not trading. I do appreciate your perspective and I also value your contributions to the thread. Good trading to you. jm

have taken this GU short trade.

Stop at top of CZ 15733

Currently 10 pips down and hitting bottom of CZ.

Have entered at a psycho number so keeping a close eye.

locked in profit at +10. When price reached second take profit level (just below 15677) I tried to remove more profit and managed to close the whole position.

I believe there was a tip in this thread a while back. Measure twice, cut once.

Lesson learnt but still a positive trade so no complaints at all.

Thanks again FX.

Now looking at EU and Possibly EJ short as they have broken below previous CZ's.

Forgot the pics